The Future Of Social Security?

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The Future of Social Security? Social Security was first enacted to help the people who were too old to work, disabled, unemployed, and to help the families during difficult times. There have been many changes through the years, but it is still an important way of life that many depend upon. The future of Social Security is considered, by many, to be questionable at best. Social Security was developed to help the elderly, but considering the economical and governmental changes, it may not be a dependable source of retirement income. According to the Social Security Administration’s Website, the economic conditions and an increased concern for the well being of the elderly population were the determining factors in enacting the Social Security Administration. The Great Depression of the 1930s triggered the Social Security Act, before this time many elderly people either lived in poverty or depended on the support of their families to survive. The Social Security Act was signed by Franklin D. Roosevelt in 1935, it was designed to be paid out of a large reserve to people who were too old to work, disabled, unemployed, and to assist children who up until this time, had no financial assistance. In 1939 the Program added benefits for the spouse and minor children of retired workers. This Act gave many Americans in those days a second chance, and some greatly needed help during times of trouble and uncertainty providing them with a form of income that had never before been offered. The Social Security Act has changed or evolved over the years to reflect the different problems and issues that have arisen within the government and with the changing needs of the country. In 1939 the Social Security Act became a pay-as-you go system, meaning that the money was no longer paid for out of a reserve, instead the money deducted from taxes are used to pay the dependent’s

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